Mobilizing IMF Gold for Multilateral Debt Cancellation

Society for International Development Development, 2005, 48(1), (92–100).

ABSTRACT: Sony Kapoor examines how using IMF gold sales to fund
multilateral debt cancellation could release much needed resources
for meeting the millennium development goals (MDGs). He shows
why multilateral debt cancellation is so critical and how the sale of
IMF gold could finance it for the IMF as well as the World Bank. He
addresses the concerns of the gold-producing poor countries by
highlighting two distinct mechanisms by which the gold could be
sold while eliminating or at least minimizing price impact. Finally, he
underlines the fact that selling this gold and using its proceeds for
debt cancellation would not in any way jeopardize the operations of
the IMF.